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Pennsylvania Multi-Member LLC Operating Agreement

A Pennsylvania multi-member LLC operating agreement is a legal contract that sets out the ownership and operations of a limited liability corporation owned by more than one (1) member. A member, in this context, can be either an individual or a corporation. The agreement serves to clarify expectations, thereby reducing conflict, but it can also be used to shield members’ personal assets from exposure to liabilities incurred by the company. Each member should keep a copy of the agreement on file.

Pennsylvania Multi-Member LLC Operating Agreement